Canadian mining company Dominion Diamond Corp. said Monday it has agreed to be acquired by The Washington Companies for $14.25 a share in cash, or $1.2 billion. The Washington Companies is a group of privately held North American mining, industrial and transportation businesses founded by Dennis Washington, an industrialist and entrepreneur. The price is equal to a 44% premium over Dominion's share price on March 17 and ends the company's review of strategic alternatives announced on March 27, the company said in a statement. Dominion will continue to operate as a standalone business with a new CEO based in Canada. The company will continue to operate the Ekati Diamond mine, which it controls, as well as the Diavik Diamond mine, in which it has a 40% interest. Both are located in the Northwest Territories in Canada. Dominion shares were halted premarket for the news, but have gained 39% in 2017, while the S&P 500 has gained about 10%.

Jul. 17, 2017 at 8:15 a.m. ET

by Ciara Linnane

The Washington Cos. to pay $14.25 a share in cash for Dominion Diamond

The Washington Cos. to pay $14.25 a share in cash for Dominion Diamond

Jul. 17, 2017 at 8:05 a.m. ET

by Ciara Linnane

Dominion Diamond agrees to be acquired by The Washington Cos. for $1.2 bln

Dominion Diamond agrees to be acquired by The Washington Cos. for $1.2 bln

Dennis Washington assembled a sprawling industrial empire based largely on instinct. The 83-year-old billionaire is now grappling with how to make sure the empire with $2 billion in revenue endures after him.

Recent News

Dennis Washington assembled a sprawling industrial empire based largely on instinct. The 83-year-old billionaire is now grappling with how to make sure the empire with $2 billion in revenue endures after him.

On Friday, Royal Gold (RGLD) hit a noteworthy performance benchmark, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 83, up from 79 the day before. [ibd-display-video id=449419 width=50 float=left autostart=true] IBD's unique RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against other

One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Franco Nevada (FNV) just hit that mark, with a jump from 78 to 81 Monday. [ibd-display-video id=449433 width=50 float=left autostart=true] IBD's proprietary RS Rating tracks market leadership by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database. History reveals that the stocks that go on

One important metric to look for in a stock is an 80 or higher Relative Strength Rating. Osisko Gold Royalties (OR) now clears that threshold, with a jump from 78 to 82 Friday. [ibd-display-video id=449433 width=50 float=left autostart=true] IBD's unique RS Rating identifies technical performance by using a 1 (worst) to 99 (best) score that shows how a stock's price action over the trailing 52 weeks matches up against the rest of the market.

When considering what names to put on your watch list, look for stocks with an 80 or higher RS Rating. Royal Gold (RGLD) is one stock that just reached the mark, now earning a score of 82. [ibd-display-video id=449419 width=50 float=left autostart=true] This proprietary rating identifies technical performance by showing how a stock's price movement over the last 52 weeks compares to that of other stocks on the major indexes. Over 100 years of

In a welcome move, Osisko Gold Royalties (OR) saw its Relative Strength Rating improve from 69 to 74 on Wednesday. [ibd-display-video id=449433 width=50 float=left autostart=true] IBD's proprietary RS Rating measures technical performance by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the trailing 52 weeks matched up against all other stocks. History reveals that the stocks that go on to make the

A slew of mergers and acquisitions news hit the headlines Monday, including a deal by Valeant Pharmaceuticals (VRX). Church & Dwight [ibd-display-video id=2036563 width=50 float=left autostart=true]Church & Dwight (CHD), maker of Arm & Hammer toothpaste and other consumer products, said Monday it will buy Water Pik, a leader in oral water-jet flossers for about $1 billion in cash. The acquisition is structured as a stock purchase that Church &

Dominion Diamond Corp.

Dominion Diamond Corp. engages in the mining and marketing of rough diamonds. It operates through three reportable segments: Diavik Diamond Mine, Ekati Diamond Mine and Corporate. The Diavik Diamond Mine segment includes the production, sorting and sale of rough diamonds from the Diavik Diamond Mine. The Corporate segment captures costs not specifically related to operating the Diavik and Ekati mines. The company was founded by David Grenville Thomas on April 19, 1994 and is headquartered in Yellowknife, Canada.
(See Full Profile)

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information.
All quotes are in local exchange time.
Real-time last sale data for U.S. stock quotes reflect trades reported through Nasdaq only.
Intraday data delayed at least 15 minutes or per exchange requirements.

Trending Tickers

Stocks

Columns

Authors

Topics

Storyful, a division of News Corp, which owns MarketWatch, is a leading social media services company headquartered in Dublin, Ireland. Storyful combines world class journalism with industry-leading technology to discover, verify and acquire original content and provide the on-the-ground sources news and media organizations need to tell the stories that matter to their audience.